Costco news

15 November 2013
Having been refused permission to develop a site at  Bussy-Saint-Georges, Costco has named Villebon-sur-Yvette as the location of its first depot in France, scheduled to open in 2015.  Like Bussy, Villebon is a growing surburban development of Paris and lies just 14 miles from the centre of the capital. Strong catchment for Costco model Villebon-sur-Yvette lies just south of Paris, adjacent t...
04 November 2013
Costco has launched its e-commerce site in Mexico, offering 3,800 products, the majority - 80% - of which are only available online. Extend reach into new cities and gauge demand Costco has 34 stores in 19 Mexican states and hopes the site will not only reach new locations. It also hopes to determine, via the levels of demand for online shopping, which areas it should be looking to move ...
14 October 2013
At last week's Costco full year results briefing, the retailer's chief financial officer said that it is seeing premium growth rates from its international business, with Australia its star performer. Highest per share volume ever in a country Richard Galanti said that when the retailer opened in Australia it record its highest per share volume ever in a country. In fact, from our visits to tw...
09 October 2013
Costco reported a 6.0% increase in net sales for the fiscal year ended 1 September 2013 to $102.9bn, with comparable store sales up 6%.  Operating income rose by 10.7%, to  $3,053m, for the full fiscal year. Sales increased by 1.0% in the fourth quarter, although this was a 16 week quarter, versus 17 weeks in 2012, with comparable store sales up 5%. First outlets to open in Spain next yea...
05 September 2013
With the location for what would be its third store in Sydney now secured, Costco continues to accelerate expansion into the Australian market. Clearly evolving strategy to build scale in Sydney Having initially been dismissed by the local council, the decision for a new Costco at Marsden Park in north west Sydney has been overturned. The new Costco warehouse would generate 330 new jobs in t...
29 August 2013
At IGD, we are keeping an eye on the online grocery channel around the world. Here, we take a closer look at the US market, including latest developments and innovative new retailers to watch. Online grocery is becoming a major priority for US retailers Although it is niche today, technology is empowering shoppers to transact anytime, anywhere, and a growing number of start-ups and tradit...
30 May 2013
Costco’s net sales over the third quarter increased by 7.8% to $23.6bn, with comparable store sales increasing by 7% (ex-fuel and currency impacts). Net income over the period increased by 18.9% to $459.0m. Increased visit frequency driving sales growth Costco delivered another strong quarter, driven predominantly by a stronger visit frequency while average transaction remained broadly fla...
03 May 2013
Costco has received planning approval to open its first depot in the Australian state of Queensland. Decision signals entry into fourth state Member club cash and carry operator Costco has been given planning to open its first depot in Brisbane. The development will see the retailer enter a new state, building on its existing coverage where it already has stores in ACT, New South Wales and...
29 April 2013
Costco UK has launched a new online only subscription, open to all, and unlimited by any warehouse membership criteria, providing universal access to Costco.co.uk. The £15 annual payment allows consumers to purchase at the club member rate across the full range of the online offer. Online provides wider range than depots Launched in October 2012, the Costco UK online ordering service is a s...
27 March 2013
Last week we examined how retailers in Australia are creating formats that are strengthening multi-channel competition. However, moving from the macro environment and drilling down further, retailers and suppliers are progressively starting to evolve their strategies to become shopper and insight led, with differentiation a word that we are increasingly hearing. An area we are likely to see i...